Edge plants flag in Europe

Europe wants defense made at home, and Edge Group is stepping in. The Abu Dhabi defense conglomerate has agreed with Spanish information technology company Indra Group to set up a new defense manufacturing entity in Spain, targeting loitering munitions and smart weapons for Spanish and wider European defense programs, according to a statement.

What we know: Production would be anchored in León at a new Indra-developed facility, with an initial EUR 15-20 mn investment, also from Indra, subject to board approvals. The planned platform is backed by an estimated EUR 2 bn multi-year order pipeline.

FAB taps T. Rowe Price to deepen investment offering

First Abu Dhabi Bank (FAB) has partnered with US asset manager T. Rowe Price to expand the range of investment solutions it offers its private banking and institutional clients, according to a press release. This will include supply equity, fixed-income, alternatives, and multi-asset strategies.

FAB’s been expanding its use of global asset management partnerships. Just a month ago, the bank also tapped Amundi, Europe’s largest asset manager, to broaden its investment offering across client segments.

Zoho Corporation brings its data centers to the UAE

Zoho rolls out two UAE data centers: India-based software solutions company Zoho Corporation rolled out its first UAE-based data centers in Dubai and Abu Dhabi, as it moves ahead with the AED 100 mn investment it had earmarked for the UAE, according to a press release.

The details: The new facilities will host over 100 solutions from the company’s flagship brands — Zoho for cloud solutions, and ManageEngine for IT management. The data centers secured certification to provide cloud services to government, semi-government entities, and businesses.

We’re getting lots and lots of data centers: Back in November, tech giant Microsoft announced plans to invest over USD 7.9 bn in data centers in the UAE — in the grander scheme of a USD 15.2 bn investment plan spanning 2023-2029. The Emirates already saw USD 7.3 bn in investments from the firm, with state-owned AI firm G42 and Microsoft partnering to add 200 MW to its data center capacity.

Flooss Bahrain receives credit facilities from Shorooq

Shorooq finances USD 22 mn credit facility to Flooss Bahrain: Abu Dhabi-based venture capital firm Shorooq structured a USD 22 mn credit facility for Flooss Bahrain, a shariah-compliant digital consumer finance platform, according to a press release. Flooss has disbursed over USD 100 mn to date through its buy now, pay later and device-financing services.

Where is this money going? The funds will go toward expanding its shariah-compliant lending portfolio, scaling up its AI-based services — which use open banking and alternative data — developing new domestic products, and tapping into new markets, with the firm eyeing Saudi Arabia in particular.

NMDC Infra + CCC team up on onshore EPC in the Emirates

NMDC Infra — the infrastructure arm of NMDC Group — and international contracting firm Consolidated Contractors Co. (CCC) have established NMDCCC, a new entity focused on onshore engineering, procurement, and construction (EPC) for oil and gas projects in the UAE, according to a disclosure (pdf). Operating as an NMDC Infra subsidiary, the venture will deliver full-lifecycle EPC services, focusing on executing NMDC’s backlog and mitigating supply chain risks by expanding the group’s onshore EPC capabilities.

We knew this was coming: In 1Q 2025, the two companies signed an initial agreement to establish the new entity, holding a 50% stake each, according to NMDC’s earnings release (pdf) for the quarter. At the time, NMDC said the new firm would be headquartered in Abu Dhabi, with its remit spanning refineries, plants, ports, bridges, roads, and industrial zones. It also said it would support project implementation for national oil companies.

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